Robo.cash has revealed that it doubled its lending volumes in 2019 from the previous year, boosted by an influx of new investors.
The European peer-to-peer lender, which is headquartered in Croatia, said that it financed €80m (£68.6m) of loans in 2019 – double the amount it lent out in 2018.
This brings total lending to date to €140m.
Robo.cash also said that the number of new investors rose to 4,673 last year, up from 3,241 in 2018, while investors’ income rose to €872,000 from €394,000 over the period.
“The funding volumes on Robo.cash grew fast due to the combination of factors,” said Sergey Sedov, chief executive of Robocash Group.
“Certainly, one of them was the increased volumes of our lending companies. Still, the most important thing was the growing loyalty of the current users and the influx of new investors.
“Our recent data based on a survey among the users of Robo.cash show that 90.4 per cent of them are generally satisfied with the platform, and 89.5 per cent would more likely recommend it to others. This year, we will work to increase the positive experience among the users by making improvements on the platform and creating more investment opportunities.”
Robo.cash is part of Robocash Group, which operates across seven markets in Europe and Asia. In 2019, the platform expanded its investment opportunities by adding loan originators from Vietnam and Singapore.
The Singaporean company also introduced a new product – commercial loans aimed to support the business development of Robocash Group.